Workday Named a Leader in Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global En...
May 16 2019 - 08:30AM
Workday, Inc. (NASDAQ:WDAY), a leader in enterprise cloud
applications for finance and human resources, today
announced it has been positioned by Gartner, Inc. in the Leaders
quadrant of the Magic Quadrant for Cloud Core Financial Management
Suites for Midsize, Large, and Global Enterprises1. Workday was
acknowledged as a Leader for the third year in a row.
Businesses today are facing growing demands to scale, recruit
the best talent, and navigate a complex regulatory environment. To
support these heightened dynamics, customers globally are turning
to Workday to help them plan, execute, and analyze across the
enterprise, all in one system, powered by machine learning. As part
of this, Workday continues to invest heavily in its core finance
offering – Workday Financial Management – which has been selected
by more than 650 organizations to manage their finance operations
in the cloud, plan for uncertainty, and drive strategic
advantage.
As these customers look to grow, Workday is expanding the
breadth and depth of Workday Financial Management to create greater
value for employees and the business. These planned advancements
include:
- Increased Intelligent Capabilities: Workday
continues to invest in machine learning – a subset of artificial
intelligence – to deliver greater business value for customers. For
example, using the account reconciliation feature in Workday
Financial Management, an accountant will be able to detect and fix
accounting issues as they occur. In addition, the application’s
anomaly detection feature will be able to surface activity to
finance managers that appears inaccurate based on past
transactions.
- Greater Analytics and Insights: Workday is
advancing its financial analytics capabilities, giving customers
more ability to manage multiple data sources that lead to better
business decisions. For instance, an insurance company can load
operational transactions – such as claims data – into the system
using Workday Prism Analytics for further reporting and analysis,
and will be able to create accounting entries for those
transactions through Workday Accounting Center. In addition,
through the use of augmented analytics, Workday will enable
financial managers to answer questions such as, “what is driving
revenue growth?” or “why is gross margin performing lower than
expected?” The system will surface the underlying causes for these
trends and be able to predict the financial metrics that will have
the biggest impact on the organization.
- More Intuitive Experiences: By meeting users
where they are, Workday is making it easier for customers to
complete tasks in their natural workspaces. For example, using
Workday Assistant, finance executives will get notified of key
business insights through the chatbot, such as sudden increases to
the expense forecast or other changes to the company’s financial
situation. In addition, inside Slack and Microsoft Teams, employees
will be able to perform tasks such as taking photos of business
receipts on their mobile devices and submitting expense entries
into Workday.
- Better Business Planning: To accelerate
customers’ ability to plan, execute, and analyze in one system,
Workday acquired Adaptive Insights, a leader in business planning
solutions. With Adaptive Insights Business Planning Cloud, finance
teams can accurately model key areas of the business, including
expenses, revenue, bookings, headcount, and more. Bringing together
financial and operational plans gives finance and business users a
consistent and comprehensive model to monitor and manage corporate
performance.
Comment on the News“We believe Gartner’s
recognition of Workday as a Leader in cloud core financial
management suites for the third consecutive year demonstrates our
commitment to product innovation and heightened investment in new
capabilities that address our global customers’ needs,” said
Barbara Larson, general manager, Workday Financial Management.
“There’s no questioning the power of technology to drive growth and
mitigate risk in our increasingly dynamic and global business
environment. This is why more organizations are leading their
digital transformations with finance, and more finance teams are
partnering with Workday to provide the experience and insights they
need to prepare for the future and drive the business forward.”
Additional Information
- Read a complimentary copy of the Gartner report on the Workday
website.
- Please visit the Workday blog for additional perspective:
Workday Named a Leader in Gartner Magic Quadrant for Cloud Core
Financial Management Suites for Midsize, Large, and Global
Enterprises for Third Year in a Row by Barbara Larson, general
manager, Workday Financial Management.
1 Gartner “Magic Quadrant for Cloud Core Financial Management
Suites for Midsize, Large, and Global Enterprises,” by John Van
Decker | Robert Anderson | Greg Leiter, 13 May 2019.
Required Disclaimer: Gartner does not endorse
any vendor, product or service depicted in its research
publications, and does not advise technology users to select only
those vendors with the highest ratings or other designation.
Gartner research publications consist of the opinions of Gartner's
research organization and should not be construed as statements of
fact. Gartner disclaims all warranties, expressed or implied, with
respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
About WorkdayWorkday is a leading provider of
enterprise cloud applications for finance and human resources.
Founded in 2005, Workday delivers financial management, human
capital management, planning, and analytics applications designed
for the world’s largest companies, educational institutions, and
government agencies. Organizations ranging from medium-sized
businesses to Fortune 50 enterprises have selected Workday.
Forward-Looking StatementsThis press release
contains forward-looking statements including, among other things,
statements regarding the expected performance and benefits of
Workday’s offerings. The words “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,” “seek,”
“plan,” “project,” and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are
subject to risks, uncertainties, and assumptions. If the risks
materialize or assumptions prove incorrect, actual results could
differ materially from the results implied by these forward-looking
statements. Risks include, but are not limited to, risks described
in our filings with the Securities and Exchange Commission (SEC),
including our Form 10-K for the fiscal year ended January 31, 2019
and our future reports that we may file with the SEC from time to
time, which could cause actual results to vary from expectations.
Workday assumes no obligation to, and does not currently intend to,
update any such forward-looking statements after the date of this
release.
Any unreleased services, features, or functions referenced in
this document, our website, or other press releases or public
statements that are not currently available are subject to change
at Workday's discretion and may not be delivered as planned or at
all. Customers who purchase Workday, Inc. services should make
their purchase decisions based upon services, features, and
functions that are currently available.
© 2019. Workday, Inc. All rights reserved. Workday and the
Workday logo are registered trademarks of Workday, Inc. All other
brand and product names are trademarks or registered trademarks of
their respective holders.
Media ContactCourtney LaubWorkday+1 (650)
465-4590courtney.laub@workday.com
Workday (NASDAQ:WDAY)
Historical Stock Chart
From Feb 2024 to Mar 2024
Workday (NASDAQ:WDAY)
Historical Stock Chart
From Mar 2023 to Mar 2024